Friday, January 27, 2023

Man United owners have not received a half-yearly dividend

MANCHESTER, England ( Associated Press) – Manchester United owners have not received their semi-annual dividend for fiscal year 2023, according to the Premier League club’s quarterly financial statements.

The decision came prior to the recent announcement by the Glazer family that it may consider putting the team up for sale.

Last fiscal year, the Glazers and other shareholders were paid dividends equal to $44 million.

On November 15, the team’s board of directors “did not approve the payment of a fiscal year 2023 semi-annual dividend,” according to what was released in United’s financial results for the first quarter of fiscal year 2023.

A week later, United said the Glazer family was exploring outside financing to fuel growth, a move that could pave the way for a possible majority stake acquisition.

“As part of this process, the board will consider all strategic options, including a new investment in the team, a sale, or other transactions related to the company,” the club said on 22 November, the same day the contract was terminated. Her relationship with Cristiano Ronaldo.

Fans have long demanded that the American family, which also owns the Tampa Bay Buccaneers, be removed from the NFL team.

The Glazer family acquired United in 2005 in a leveraged buyout that left the club in debt.

Critics say the Glazers have not invested enough of their own money in the team or facilities and have been on top through years of failure for England’s greatest team.

The Manchester United Supporters’ Trust welcomed the decision not to pay a dividend.

“Certainly, the dividend should not be paid when the football club is not winning on the pitch, contesting for the highest honours,” the organization said in a statement on Thursday.

“This amounts to rewarding failure and removes the incentive for owners to ensure adequate reinvestment of profits into the club.”

Nation World News Desk
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